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Feb 4, 2013
02/13
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s&p has gotten ahead of the u.s. government by putting out its own press release saying it would be without factual or legal merit for the doj to sue. as we previously also reported, there were at least -- there was a desire on the part of the doj to get at least a billion dollar settlement and admission of guilt from s&p to drop the charges. s&p said no thank you. it would be a long time until we go to court, but this is an interesting potential case and certainly an important news story that is having significant pressure on both mcgraw-hill stock price and interestingly on that of moody's despite according to our sources there does not seem to be a case mounted against moody's president . at least at this point. >> selling off just in case though. >> absolutely. we're looking at the stock markets reaction. stay right there. we want to get reaction from brian belski and bob pisani. what about this? when you see a move like this in these stocks while we're waiting. what do you want to do? >> first off it was five ye
s&p has gotten ahead of the u.s. government by putting out its own press release saying it would be without factual or legal merit for the doj to sue. as we previously also reported, there were at least -- there was a desire on the part of the doj to get at least a billion dollar settlement and admission of guilt from s&p to drop the charges. s&p said no thank you. it would be a long time until we go to court, but this is an interesting potential case and certainly an important news...
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Feb 11, 2013
02/13
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u.s. companies tend to do really well as long as the u.s. currency continues to be cheaper. >> all right. thank you, guys. good to see you both. thanks for joining us today. appreciate it very much. >>> up next, "the new york times" now responding to elon musk about his claim that the newspaper's test drive of a new high-end electric tesla was bogus. phil lebeau will have the latest on that. >>> then the threat of massive spending cuts hanging over the market, coming up i'll talk to gene sperling from the white house today. they want more revenue. representative tom cole says more taxes are off the table. is there any hope of a compromise to be reached? back in a moment. , , you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected sign
u.s. companies tend to do really well as long as the u.s. currency continues to be cheaper. >> all right. thank you, guys. good to see you both. thanks for joining us today. appreciate it very much. >>> up next, "the new york times" now responding to elon musk about his claim that the newspaper's test drive of a new high-end electric tesla was bogus. phil lebeau will have the latest on that. >>> then the threat of massive spending cuts hanging over the market,...
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Feb 15, 2013
02/13
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gold is priced in u.s. dollars, so right now the u.s. dollar is seeing strength against the yen and the euro so we're having a positive -- sorry, a positive impact on the dollar and negative on gold. that has turned and can turn around very quickly, but, again, it's your long-term viewer, whether it's marc faber or someone else in terms of how you believe the ultimate solution to extremely high debt levels world wide is going to be resolved, and -- and there's, you know, a good argument that says the only way it's going to be resolved is through inflation. >> all right. leave it there. so good to have you on the program. thanks for stopping by today. appreciate your time. >> thank you. >> thank you. >> heading towards the close. we've got about 15 minutes left. the dow trading now down 5 points, was down 61 points led lower by the retailers after the walmart story got out, but we've come well off the lows. >> we have. >> down five points. looks like it's going positive. the clash of the titans is heating up again. >> i do not, as a great
gold is priced in u.s. dollars, so right now the u.s. dollar is seeing strength against the yen and the euro so we're having a positive -- sorry, a positive impact on the dollar and negative on gold. that has turned and can turn around very quickly, but, again, it's your long-term viewer, whether it's marc faber or someone else in terms of how you believe the ultimate solution to extremely high debt levels world wide is going to be resolved, and -- and there's, you know, a good argument that...
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Feb 25, 2013
02/13
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and how europe and the u.s. and asia per seceive the italian economy and how serious they are to sticking to a budget and taking debt seriously is really important to their credit rating. after this four-way election turned into this kind of chaotic result here today, we saw the italian bond drop. those yields started higher. markets are answering that question for us. it's really important. >> and in fact, as we sit here, gentlemen and sue and michelle, they're going back to the lows of the day. the dow was down 107. now we're down 106.5 points. there are some traders here at the big board who have been saying to us italy's not that big a deal for these markets. and you called this an excuse for the markets to see a selloff. what are you going to do here? >> they should sell off. the markets rallied too much. they need a reason to sell off. they have to grab something. but italy is a big deal in the moral hazard that is created if italy doesn't do the right thing and shrink government spending. they can't try t
and how europe and the u.s. and asia per seceive the italian economy and how serious they are to sticking to a budget and taking debt seriously is really important to their credit rating. after this four-way election turned into this kind of chaotic result here today, we saw the italian bond drop. those yields started higher. markets are answering that question for us. it's really important. >> and in fact, as we sit here, gentlemen and sue and michelle, they're going back to the lows of...
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., but this u.s. investment banking subsidiary. the brakes did not like it when he did it. remember, he was going to by lehman during when there were going to bail it out and he backed away and ultimately bought the stuff in bankruptcy. liz: this puts the building. >> reporter: and his bank and the u.k. regulators still did not like that even though it was an amazing spin. liz: they just did not like a yank. they went after him because he was american. >> they went after him -- they don't like the u.s. investment banking model. adelle like the risk is not easy to unscramble that a, which is one reason why it might not happen. i can tell you, according to investment bankers, we talked to board members. in it is in this system. they're talking about it. liz: can you unscramble any egg? >> that is the problem. talking about it. broad discussions. very hard. you can unscramble some. some -- like what they're doing it ubs. they are basically -- and you can spin out their brokerage department which is not h
., but this u.s. investment banking subsidiary. the brakes did not like it when he did it. remember, he was going to by lehman during when there were going to bail it out and he backed away and ultimately bought the stuff in bankruptcy. liz: this puts the building. >> reporter: and his bank and the u.k. regulators still did not like that even though it was an amazing spin. liz: they just did not like a yank. they went after him because he was american. >> they went after him -- they...
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Feb 18, 2013
02/13
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FBC
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majority of its trade in investment flows are going to the u.s. they are tied to the u.s. in terms of their direction. so with the u.s. improving this year, mexico will improve. we see that the demand for their debt for their equities will continue to grow. if you want to gain a greater exposure to emerging markets which is the search for yield right now, you have to have a piece of mexico, even if the fundamentals aren't quite as strong you would otherwise like. liz: what would you short? >> i do not like the brazilian real. the brazilian government is not comfortable with currency strength. they have had great deal of success over the last several years at controlling the pace of currency appreciation. and i would expect them to implement further measures, regulatory reform measures to discourage foreign investment. liz: where does this leave the u.s. dollar? we're devaluing in a way by printing so much and by so much fed involvement, but do the others trump us and therefore make us look stronger? >> yeah, this is going to be the tale of two halves, in terms of 2013. dol
majority of its trade in investment flows are going to the u.s. they are tied to the u.s. in terms of their direction. so with the u.s. improving this year, mexico will improve. we see that the demand for their debt for their equities will continue to grow. if you want to gain a greater exposure to emerging markets which is the search for yield right now, you have to have a piece of mexico, even if the fundamentals aren't quite as strong you would otherwise like. liz: what would you short?...
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the u.s. faces large budget and economic challenges. let's get to the budget portion first, expecting a budget deficit this year of $845 billion. the first year under a trillion dollars in five years. then the budget deficit gets smaller. these are annual numbers, $616 billion all the way down to 476 billion in 2016 and continuing to rides from there under the weight of the increased interest payments, health care costs. more folks going into entitlement programs for a total of 6.9 trillion added to the national debt over the next ten years. get to the economic projections here. cbo expecting real gdp growth, fourth quarter to fourth quarter, 3.4% next year, averaging 3.6%. the unemployment rate expected to be 8% this year. 7.6% next year. the sixth consecutive year at 7.5% unemployment. that's the longest run in 70 years. getting back to the entitlement programs, the cbo director says health care costs eventuallily swamp the federal budget. >> it's possible to keep the policies for the large benefit programs unchanged, but only by rais
the u.s. faces large budget and economic challenges. let's get to the budget portion first, expecting a budget deficit this year of $845 billion. the first year under a trillion dollars in five years. then the budget deficit gets smaller. these are annual numbers, $616 billion all the way down to 476 billion in 2016 and continuing to rides from there under the weight of the increased interest payments, health care costs. more folks going into entitlement programs for a total of 6.9 trillion...
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Feb 13, 2013
02/13
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FBC
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people looking to the u.s. as a big growth opportunity with more control over energy and manufacturing coming back to this country. that will require lots of infrastructure but frankly the @%s. is falling behind. we need to modernize what we have and put more infrastructure in place if we want to bring all this energy to market to bring this power to market. they have to relieve some of the uncertainty that has been there. get this thing resolved that they are negotiating. i want to get into politics, but we would like to see this get behind this so that we can start focusing and driving growth. i think this country probably has of any major country in the world, the best growth opportunities out there and we want to take advantage of that. liz: you just articulated opportunities. what does not look attractive to you as the ceo? >> one of the issues is skills. we have over 100 manufacturing plants in the country. production workers, people working on the plan for. or math and computer skills a lot of companies
people looking to the u.s. as a big growth opportunity with more control over energy and manufacturing coming back to this country. that will require lots of infrastructure but frankly the @%s. is falling behind. we need to modernize what we have and put more infrastructure in place if we want to bring all this energy to market to bring this power to market. they have to relieve some of the uncertainty that has been there. get this thing resolved that they are negotiating. i want to get into...
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Feb 20, 2013
02/13
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FBC
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and we are seeing improvement in all of our properties here in the u.s. and certainly just finished another record year. liz: i want to stick with las vegas for one moment. everybody is wondering, certainly analysts, are we through the attempt to recover, are we through the recovery or are we still in the process? >> i think we can close the chapter on the recovering from the recession and i move on to the fact we are firmly underway with growth again. my competitors are seeing it, we are seeing it, we are having a good first quarter so far, tremendous calendar for the second quarter, i predict profits will be up in las vegas for everybody and i think we will do better than most given our dominant position. i would have to say we will see higher revenues, improved margins particularly in las vegas for us, higher profits and yes, fortunately we are doing much better today. liz: i think steve wynn is thrilled you are speaking for everybody sang it is getting better. it was worth the revenue is not what it should be for the current numbers in the revenue dis
and we are seeing improvement in all of our properties here in the u.s. and certainly just finished another record year. liz: i want to stick with las vegas for one moment. everybody is wondering, certainly analysts, are we through the attempt to recover, are we through the recovery or are we still in the process? >> i think we can close the chapter on the recovering from the recession and i move on to the fact we are firmly underway with growth again. my competitors are seeing it, we are...
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Feb 26, 2013
02/13
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FBC
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liz: we were doing that too in the u.s. a little bit with the fed; right? >> everybody is somewhat afraid of being too strong, so there is -- i won't call it a currency war, but there is certainly currency skirmishes, what we have been doing is similar to what other nations have been doing. we have been making everything more liquid which affects the dollar and the dollar weakens. liz: it seems obvious that the yen would continue to weaken and that a lot of people are shorting the yen. is that a trade that could turn and move quickly? >> it could in terms of a short-term reaction toward where it's been going. i think in the long run the yen probably has more to go. liz: i have to ask you about exchanges. the cme obviously was not part of the big acquisition, the big merging trade that we've seen lately. of course the nyse joining with the i.c.e., there is a rumor, i'm not shocked that you probably know about this, that the deutsche boerse and the cme may very well hook up. would you be in support of that kind of thing? >> i'm not going to comment on anythin
liz: we were doing that too in the u.s. a little bit with the fed; right? >> everybody is somewhat afraid of being too strong, so there is -- i won't call it a currency war, but there is certainly currency skirmishes, what we have been doing is similar to what other nations have been doing. we have been making everything more liquid which affects the dollar and the dollar weakens. liz: it seems obvious that the yen would continue to weaken and that a lot of people are shorting the yen. is...